Ares Commercial Real Estate (NYSE:ACRE – Get Appraisal)The stock had its “buy” rating restated by stock analysts JMP Securities in a research report released Tuesday to clients and investors, TipRanks reports. They currently have a price target of $16.50 on shares of the real estate investment trust. JMP Securities’ price target indicates a potential upside of 14.11% from the current stock price.
A number of other brokerages have also recently commented on ACRE. Zacks Investment Research downgraded Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27. StockNews.com began covering Ares Commercial Real Estate in a research report on Thursday, March 31. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. raised its price target on Ares Commercial Real Estate from $14.50 to $16.00 and gave the company a “neutral” rating in a Monday, April 25 research report. Three analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.75.
ACRE stock traded down $0.01 at midday Tuesday, hitting $14.46. 11,415 shares were traded, against an average volume of 627,981. The stock’s 50-day moving average price is $15.35 and its 200-day moving average price is $14.98. The stock has a market capitalization of $685.95 million, a price/earnings ratio of 10.75 and a beta of 1.20. Ares Commercial Real Estate has a fifty-two week low of $13.48 and a fifty-two week high of $16.98. The company has a debt ratio of 2.57, a quick ratio of 0.61 and a current ratio of 0.61.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last released its quarterly results on Tuesday, May 3. The real estate investment trust reported earnings per share of $0.34 for the quarter, missing consensus analyst estimates of $0.36 per ($0.02). Ares Commercial Real Estate achieved a return on equity of 9.74% and a net margin of 58.09%. In the same period last year, the company earned $0.38 per share. Research analysts expect Ares Commercial Real Estate to post EPS of 1.38 for the current year.
Separately, director William Stephen Benjamin bought 18,000 shares in a trade on Wednesday, February 23. The shares were purchased at an average price of $14.05 per share, with a total value of $252,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. 1.95% of the shares are currently held by insiders.
Large investors have recently increased or reduced their stakes in the stock. Spire Wealth Management acquired a new position in shares of Ares Commercial Real Estate in the fourth quarter worth approximately $688,000. Roosevelt Investment Group LLC acquired a new stake in Ares Commercial Real Estate during the fourth quarter valued at approximately $291,000. Voya Investment Management LLC increased its stake in Ares Commercial Real Estate by 7.1% during the third quarter. Voya Investment Management LLC now owns 14,494 shares of the real estate investment trust valued at $219,000 after buying 961 additional shares last quarter. Barclays PLC increased its stake in Ares Commercial Real Estate by 274.8% during the third quarter. Barclays PLC now owns 17,887 shares of the real estate investment trust valued at $270,000 after buying an additional 13,115 shares last quarter. Finally, Tudor Investment Corp Et Al increased its stake in Ares Commercial Real Estate by 84.3% during the third quarter. Tudor Investment Corp Et Al now owns 49,719 shares of the real estate investment trust valued at $750,000 after buying 22,737 additional shares last quarter. Institutional investors and hedge funds own 46.66% of the company’s shares.
About Ares Real Estate Commercial (Get an assessment)
Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. The company offers a range of financing solutions for owners, operators and sponsors of CRE properties. It issues first mortgage loans, subordinated debt products, mezzanine loans, preferred equity investments in real estate and other CRE investments, including commercial mortgage-backed securities.
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